AH, any investor in football who wants to have a self financing club in the Premier league is in the wrong game. We have no idea what money is behind us and I don't think Slater's cryptic interviews offer much clarity... The last one I heard with him, he said he wanted one year with us in the Premier... Seriously what are these people planning...?
YOOF Finally some news. After the silence and the worrying threads of the past few weeks, it makes me very happy indeed to read this article. Looking forward to August 18th!
This one, Salford? http://www.cafc.co.uk/page/NewsDetail/0,,10267~2830979,00.html Delighted that RBI has re-signed - lovely passer - and astonished and very pleased that Yado is still part of the set-up. Maybe the extended stay at Ebbsfleet had the desired effect.
The one about the new coaches. But your one is an added bonus! This surely means Mambo is closer to his destiny of wearing the number 5 shirt?
most of those players were sold to balance the books or we didn't have the money to match deals offered elsewhere as the club has been skint since Pardew had the chequebook wrestled from him!
The club is always either skint, balancing books, or has to sell to higher bidders, the fact remains we've had no long term gain from it, other than cash.
but the long term gain we have IS cash? Jenkinson was sold which allowed us to bring in 20+ players last season, Jonjo was sold to pay off debt to allow us to continue to exist, Rob Lee was sold to allow us to return to the Valley. Don't underestimate the value of cash.
I very much doubt we got all those players just from the sale of Jenkinson. I'm sure further investment was involved, but none of know for sure, do we? I attend the The Valley to see players, and if they're from our academy it's sweeter for me... "Underestimate cash"...? Let's make one thing clear here AH, one thing I never underestimate is cash... One of the reasons I want a better takeover is that I would love to see us, just for once in our history get some serious cash, which helps build a squad for sustained success. Our hope is that Mr Slater has similar goals, as his ambition is to pass us on, have "one year as Chairman in the premier, which with a best case scenario is, we hope, going to be to parties that have even more cash & the clubs best interests at heart?
Accounts show last seasons signings were made from Jenkinson and Elliots (300k) sales. The money out/money in was pretty much identical
Accounts can also tell you what you want to hear. The term creative accounting didn't originate by accident... I know that for a fact, as I used to work in the miserable business.
I'd honestly be interested to hear what you make of the accounts then . I'm not very good when it comes to that side of the business, so always interested to hear from people who know (a lot) more. From what I can see, the money received from the player sales pretty much matches our expenditure on players bought. But again, I'm rubbish with accounts so perhaps I'm missing something?
I would have to have a seat at the big table for that, all transactions aren't added or subtracted as clean as you seem to think.
With the Companies Act 2006 a number of the loopholes were closed, you do not have to sit at the 'big table' to understand the Annual Accounts as the Company's Auditors have to sign them off as well. I still work in the industry and although some massaging can be made I cannot see any business advantage to hiding the real value of transfer fees inwards? As we both know Iwant.. transfer fees will be depreciated over the term of the players contract not written off in year 1
AH, I left the business years ago... As you say "some massaging can be made", and if it can, we can't take anything at face value can we, whatever the motives.
I think the the FRC (financial reporting council) and the accounting standards bodies have done a pretty sound job in addressing the financial engineering practices of old, particularly where the accounts are subject to an independent audit. If the money in from sales matches the money out from purchases in a set of audited accounts then it is likely to be so. However, what is more telling is the wagebill side of the equation and how that has changed year on year. 20 players in cost more than 2 out in salary terms (of course there were more than that - Semedo, Liera etc) but that is the operating cost of the business.
